Blue Ocean Strategy - Innovation: So loved yet so abused

Blue Ocean Strategy - Innovation: So loved yet so abused

There certainly has been a lot of buzz around Innovation lately. In fact, it seems that every time we turn a corner we are bombarded with stories that include the word ‘Innovation’ front-and-center. Recently we read an insightful article which spoke to this particular issue, and to the true meaning of Innovation.

The article quotes Boston Consulting’s Harold Sirkin: "There's a belief that innovation is about great ideas … but in the business context, it's also about bringing a great idea to market, and how to maximize the payback on the investment made in the idea."

All of this points to a need for a structured framework to drive Innovation forward, like that found in Blue Ocean Strategy, so that the Innovation process becomes profitable and worthwhile, rather than a loosely flaunted word.

Sirkin presents Apple’s cash curve for the iPod. As the article describes “the graphic shows the company's low startup costs (because Apple didn't invent the portable digital music player, it simply redesigned it), speed to market, and ability to quickly achieve a large volume of sales.” Very blue ocean, indeed.

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